Hinduja group confirms evaluating options for Jet Airways stake

Jet, once the biggest private airline in India, stopped all flights from April 17 after lenders refused to give it any more funds to keep flying.

The Hinduja Group is evaluating options to pick up a stake in crisis-ridden Jet Airways, said Dheeraj G Hinduja, chairman of commercial vehicle maker Ashok Leyland, which is part of the business conglomerate.

Hinduja's confirmation comes after reports that the group is in talks with various stakeholders, including Abu Dhabi-based Etihad Airways. Media reports this week said that the group was interested in investing around Rs 1,000 crore to Rs 1500 crore in the airline.

Hinduja, while announcing Ashok Leyland's financial results in Chennai, said it is premature to talk anything more about Jet Airways. 

Jet Airways stock rallied 14 per cent on